MicroStrategy Goes Big and Bullish on Bitcoin
MicroStrategy who proves business intelligence, mobile software and cloud-based services makes major investment in Bitcoin as part of the wider investment strategy.
The publicly traded firm purchased to date over 38,000 Bitcoin, spending over $400 million as part of capital allocation strategy, according to its latest disclosure to the United States Securities and Exchange Commission. The latest purchase was on the 14th of September with over 16,000 Bitcoin as addition.
MicroStrategy has a 30-year history of anticipating technology trends, and it is also a pioneer in Web Intelligence and Mobile Intelligence. MicroStrategy believes that buying $250 million in Bitcoin will provide the opportunity to preserve the value of their capital and earn better returns over time compared to holding cash.
"This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash." - stated on MicroStrategy website.
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